Montreal joins other major Canadian cities like Calgary, Vancouver, and Toronto in seeing the pace of sales slow 

https://financialpost.com/real-estate/montreal-sees-shift-in-market-dynamics-as-home-sales-and-prices-slip

Canada’s real-estate correction deepens, with prices falling for a fourth straight month as the central bank ratchets up interest rates

https://t.co/umvYLdoUZk

#Inflation in #Canada falls to 7.6%.
Canada's inflation rate fell to 7.6 per cent in July, according to a report Tuesday from Statistics Canada, marking the first time in 12 months that the rate has decreased from the previous month.

In June, inflation hit a 39-year high of 8.1 per cent, with gasoline prices the single biggest contributor to the overall rate increase.

By contrast, gasoline prices declined on a monthly basis in July, according to the agency's Consumer Price Index. Consumers paid 9.2 per cent less for gasoline in July than they did in June, a monthly decline not seen since April 2020.

#mortgage #realestate #torontorealestate #realestatenews

https://www.cbc.ca/news/business/inflation-rate-july-1.6552298

Vancouver has for a while now been considered one of, if not the most expensive city in the country. This is true both in the price of purchasing homes, where the average price of a detached home has remained above $2 million, as well as in the cost of rent.

Vancouver, even despite high prices, is simply a hot destination for renters. Being the large modern city it is, Vancouver naturally attracts many residents for jobs and lifestyle options. In addition to this, the city takes in some of the most immigrants in Canada, as well as attracts many renters for things like post-secondary education opportunities.

Toronto house market statistics for month of August 2022.

"The National Aggregate MLS® Home Price Index edged down 1.7% in July compared to June but the decline was smaller than in June, which was the first sign of deceleration on the price side" 

Average price of residential real estate in #ontario has declined in August 2022.

60% of Canadian millennials who do not currently own a home believe they will one day, however, 52% of them say they would have to relocate in order to achieve this milestone

72% of millennials in Canada would choose to continue living in their current city or town, if the cost of living was not an issue

40% of millennials in Canada say they would change employers to be able to work fully remotely; top motivators include the cost and time associated with commuting

68% of non-homeowner millennials in Canada say that owning a home is important to them

Nationally, more than 4 million millennials (51%) say they plan to purchase a home within the next five years

Royal LePage urges policy makers to remain focused on efforts to increase supply of housing in Canada, despite cooling market

Canada to fund 'rent-to-own' program under $2-billion housing plan

The funding would go toward creating some 17,000 new homes across the country

https://financialpost.com/real-estate/mortgages/canada-to-fund-rent-to-own-program-under-c2-billion-housing-plan

Bronte Lakeside, at the border between Oakville & Burlington, has just launched! This is your chance to secure a unit before everyone else and benefit from insider pricing, incentives, and more!
 
Bronte Lakeside is Oakville's greenest upscale condominium, tying in energy efficiency, green living, and high-end finishes together, right on the lake. Bronte Village offers the picturesque charm of Cape Cod while still offering the amenities of city living. 

The total value of building permits in Canada declined 6.6% in July to $11.2 billion, mainly due to the residential sector, which fell 8.6% to $7.6 billion. Learn more: ow.ly/2mrp50KxJew.

U.S. employers hired slightly more workers than expected in August, keeping the Federal Reserve on track to deliver a third 75 basis points interest rate hike this month

#realestate #realestatenews #mortgage #interestrates

https://www.reuters.com/markets/us/us-job-growth-solid-august-unemployment-rate-rises-37-2022-09-02/

There were 5,627 home sales reported through the Toronto Regional Real Estate Board’s (TRREB) MLS® System in August 2022, representing a year-over-year dip of 34.2 per cent – a lesser annual rate of decline compared to the previous four months. The August sales result also represented a month-over-month increase compared to July.

Future plan of Hillcrest mall in Richmond Hill
www.cagrichmondhill.com/amp/the-future-of-hillcrest-mall

Making your home more energy efficient is one of the most substantial actions homeowners can take to reduce the emissions that contribute to climate change. Through the Home Energy Loan Program (HELP), Toronto homeowners can borrow up to $125,000 to cover the cost of home energy improvements

https://www.toronto.ca/services-payments/water-environment/environmental-grants-incentives/home-energy-loan-program-help/

The Bank of Canada hiked its benchmark interest rate by 75 basis points on Wednesday, the fourth consecutive outsized hike, and the central bank warned further increases are ahead. The hike brings the key interest rate to 3.25 per cent


https://www.reuters.com/markets/us/bank-canada-unveils-75-basis-point-hike-says-rates-will-need-go-higher-still-2022-09-07/